Wednesday, November 21, 2018

Tag "MTN"

    CBN ‘orders’ banks to suspend payment of MTN dividends

CBN ‘orders’ banks to suspend payment of MTN dividends

The Central Bank of Nigeria (CBN) has ordered the suspension of MTN Group dividend payment from the Nigerian subsidiary of the telecommunications giant, until further notice.In a quarterly update to shareholders, MTN Group said it was not guilty of the illegal repatriation charges levelled against it by the Nigerian senate, stating that the claims are totally unfounded and without merit.Addressing [...]

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    It was impossible to follow the law on repatriated $13.9bn, says MTN

It was impossible to follow the law on repatriated $13.9bn, says MTN

MTN Nigeria says it was impossible to follow the provisions of the law on the issuance of Certificates of Capital Importation (CCI) before moving out $13.9 billion out of the country.Dino Melaye, senator representing Kogi west federal constituency, had accused the telco of flouting Nigerian laws by failing to obtain a (CCI) as authorised by CBN Financial and Miscellaneous Act within [...]

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    Senate threatens to ‘invoke powers’ against Enelamah

Senate threatens to ‘invoke powers’ against Enelamah

The senate has threatened to come down hard on Okechukwu Enelamah, minister of industry, trade and investment, over his failure to participate in the investigative hearing on the alleged illegal repatriation of $13.92billion out of the country by MTN.The minister, who owns CELTELCOM and is said to have invested in MTN, was to explain before the senate committee on banking, [...]

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    Melaye: Those who know me know that I’m a private investigator and whistle-blower

Melaye: Those who know me know that I’m a private investigator and whistle-blower

Dino Melaye, the senator representing Kogi west at the national assembly, says those who have followed his records know he is a private investigator and a whistle-blower.Melaye said this on Thursday at an investigative hearing into his allegation that MTN, a telecommunications firm, colluded with Okechukwu Enelamah, minister of industry, trade and Investment, to illegally move $13.92billion out of he country, between [...]

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    Those asked to leave were offered fresh opportunities, says MTN

Those asked to leave were offered fresh opportunities, says MTN

MTN Nigeria has broken its silence on reports that it recently dismissed many workers.The company, which said the reports were inaccurate, explained that that those affected were offered the opportunity to join new call centres.Amina Oyagbola, an executive of MTN, explained that the organisation’s call centre operations had been outsourced since 2008, and that the recent exercise was the “second [...]

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    Melaye: Trade minister helped MTN move $13.92bn out of Nigeria illegally

Melaye: Trade minister helped MTN move $13.92bn out of Nigeria illegally

Dino Melaye, the senator representing Kogi west at the national assembly, has accused Okechukwu Enelamah, minister of industry, trade and investment, of colluding with ‎MTN to illegally move $13.92billion out of Nigeria.Melaye alleged that the money was moved out of the country between 2006 and 2016.In a motion on the floor of the senate on Tuesday, the legislator also‎ reeled off the [...]

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    We didn’t bribe anyone to slash NCC fine, says MTN

We didn’t bribe anyone to slash NCC fine, says MTN

Ferdi Moolman, chief executive officer of MTN, on Friday said the telecommunications giant did not give bribe for the reduction of the N1.04 trillion fine which the Nigerian Communications Commission (NCC) imposed on the company for infraction.Moolman said his response was based on an online report, alleging that a top official in the presidency took bribe from the company to [...]

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    MTN posts record loss as Nigerian subscribers sink to 59m

MTN posts record loss as Nigerian subscribers sink to 59m

MTN Group, Africa’s biggest telecommunications network, posted a $357 million half-year loss, as its Nigerian subscriber base fell to 58.9 million in 2016.MTN Nigeria subscribers decreased by 3.7 percent, while the its revenue and EBITDA fell by 4.8 percent and 7.5 percent respectively.“MTN Nigeria continued to experience a challenging operating environment impacted by the disconnection of the final batch of [...]

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    MTN’s Visafone kicks off test-run of 4G internet services

MTN’s Visafone kicks off test-run of 4G internet services

Visafone, MTN Nigeria’s subsidiary, has kicked off the test-run of its Fourth Generation Long Term Evolution (4G LTE) internet technology service for smart phone users.According to the telecoms company, the launch of 4G LTE services by the merged entity of MTN and Visafone will roll out superior high-speed internet services in major cities.The network added that this will also empower [...]

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    MTN records first ever loss in history, blames it on NCC fine

MTN records first ever loss in history, blames it on NCC fine

MTN Group just recorded its first-ever earnings per share (EPS) loss as a publicly traded company — a loss it blamed on the Nigerian Communications Commission (NCC) N330 billion fine.In a statement released on Thursday, MTN said it would announce the half year results on Friday, but it gave shareholders a heads-up on the coming loss.“Following the trading statement published on [...]

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    What MTN’s acquisition does to your N15,000 Visafone device

What MTN’s acquisition does to your N15,000 Visafone device

In January 2016, MTN  Nigeria acquired visafone, the only surviving Code Division Multiple Access (CDMA) network in Nigeria’s telecommunications industry.The acquisition was approved by the Nigeria Communications Company (NCC) in December 2015 in what seemed like a buy into the expansion of broadband reach from an existing eight percent as of the time of acquisition to a target of 20 percent in [...]

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    MTN set for first H1 loss in 20 years as NCC fine cuts profit

MTN set for first H1 loss in 20 years as NCC fine cuts profit

MTN Group is set for the first half-year (H1) loss in at least 20 years as the Nigerian communications Commission (NCC) N330 billion fine cuts its profit drastically.In a statement on Friday, MTN told shareholders to expect “negative basic headline earnings per share (HEPS) and basic earnings per share (EPS) for HY2016”.In the first half of 2015, MTN reported headline [...]

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    Goschen, MTN’s group chief financial officer, resigns

Goschen, MTN’s group chief financial officer, resigns

Brett Goschen, MTN's group chief financial officer, is to step down in September after more than a decade at Africa's biggest telecoms operator, the company said on Monday.In a statement, the company in Johannesburg said Brett Goschen had held the position since 2013.According to MTN, its Rwanda chief executive, Gunter Engling, will assume the position of acting group CFO on [...]

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    MTN pays fresh N30bn of N330bn fine… wins NCC’s ‘superior’ internet auction

MTN pays fresh N30bn of N330bn fine… wins NCC’s ‘superior’ internet auction

MTN Nigeria says it has paid N80 billion out of its reviewed N330 billion fine, handed down by the Nigerian Communications Commission (NCC) in October 2015.The telco has also been declared by NCC as the winner of its auction for a 10-year frequency spectrum licence for the 2.6GHz band, which is expected to “guarantee superior performance for wireless networks, especially 4G" internet [...]

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    MTN, Access Bank, business leaders host roundtable on work-life balance

MTN, Access Bank, business leaders host roundtable on work-life balance

Pascal Dozie, chairman MTN Nigeria, and Herbert Wigwe, MD/CEO, Access Bank Plc, will be leading a host of business leaders to a roundtable on work-life balance.Dozie (pictured), who is also the co-chair, Nigerian Business Coalition Against AIDS (NiBUCAA), will engage professionals on the realities of work-life balance.The leaders, who would be from different organisations in the country, will be hosted [...]

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    We slashed MTN fine to encourage foreign investments, says FG

We slashed MTN fine to encourage foreign investments, says FG

Adebayo Shittu, minister of communications, on Sunday said the $5.2billion fine slammed on telecommunication giant, MTN, was reduced to encourage foreign investments in the country.Shittu said this in Ibadan at an award ceremony in honour of Lekan Balogun, the Otun Olubadan of Ibadanland.He said the federal executive council (FEC) decided to reduce the penalty against the telecommunications giant after realising [...]

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Exchange Rates

November 16, 2018USDGBPEUR
INTERBANK306397354
LAGOS359475418
KANO359476420
PH360476420
ABUJA359478419
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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